Atlassian (NASDAQ:TEAM) Stock Price Expected to Rise, Macquarie Analyst Says

Atlassian (NASDAQ:TEAM) had its price objective increased by Macquarie from $290.00 to $317.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other research analysts also recently weighed in on the company. Mizuho upped their target price on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Raymond James restated an “outperform” rating and set a $330.00 price objective (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Cantor Fitzgerald lifted their target price on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. KeyCorp upped their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group lifted their price objective on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Stock Down 1.5 %

Shares of NASDAQ TEAM opened at $314.28 on Friday. The company has a 50 day simple moving average of $264.90 and a two-hundred day simple moving average of $211.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. Atlassian has a 12 month low of $135.29 and a 12 month high of $324.37.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, research analysts expect that Atlassian will post -0.34 earnings per share for the current year.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.69, for a total value of $2,509,104.12. Following the completion of the sale, the director now directly owns 278,180 shares of the company’s stock, valued at approximately $87,818,644.20. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 165 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,438 shares of company stock worth $70,024,411. Insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

A number of hedge funds have recently added to or reduced their stakes in TEAM. Sequoia Financial Advisors LLC raised its stake in shares of Atlassian by 9.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,099 shares of the technology company’s stock valued at $511,000 after acquiring an additional 174 shares in the last quarter. Independent Advisor Alliance raised its position in Atlassian by 45.8% in the 4th quarter. Independent Advisor Alliance now owns 4,360 shares of the technology company’s stock valued at $1,061,000 after purchasing an additional 1,370 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of Atlassian during the fourth quarter worth about $223,000. Daiwa Securities Group Inc. increased its stake in shares of Atlassian by 42.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 33,240 shares of the technology company’s stock worth $8,090,000 after buying an additional 9,841 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Atlassian by 193.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,274 shares of the technology company’s stock valued at $23,188,000 after purchasing an additional 62,812 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.